- Avenue Sports Fund acquires ‘significant minority stake’
- Trackhouse Racing entered Nascar and MotoGP in 2021 and 2024, respectively
Trackhouse Entertainment Group has secured investment from Marc Lasry’s Avenue Sports Fund.
Described as a ‘significant minority stake’, the sports fund is seeking to capitalise on the group’s interests in both Nascar and MotoGP.
Trackhouse Racing has competed in Nascar since 2021 before expanding into MotoGP – the first US-based team in the series since 2007 – at the start of this season.
“We are excited to partner with Justin Marks and his organisation as they continue to compete aggressively in the Nascar Cup Series and MotoGP series and potentially in new motorsports in the future,” said Lasry, Avenue Capital’s chairman, chief executive and co-founder.
“Nascar has long held its position as the most popular racing series in North America, and MotoGP is now one of the most popular motorsports in the world with millions of cumulative race attendees and a substantial digital audience – all compelling attributes for an investment by Avenue Sports.”
Justin Marks, founder of Trackhouse Racing, sees the investment as an opportunity for the team to be more competitive in the marketplace and on track.
He said: “From the day of Trackhouse’s inception, it has been a central goal to build a valuable, diverse, and global motorsports platform. Partnering with Avenue is a monumental step forward in continuing to develop and execute that vision.
“With Trackhouse in the Avenue portfolio, the company will be able to draw on the experience and expertise of a leading global sports fund to scale into one of the most powerful motorsports companies in the world with best-in-class on-track competitiveness, partner services, and racing event experiential assets.”
BlackBook says…
The potential for Trackhouse Racing to grow in Nascar is obvious, but with no clarity on when a new charter agreement will be agreed in the series the wider investment begins to make more sense.
MotoGP will be taken over by Liberty Media, pending approval, by the end of this year. Exponential growth beckons for the two-wheeled series, so now is the time for an investment fund to maximise future returns.
